GJPOMRT@EC2606C

SUPERLAND GROUP

OCT (ASIA)

GREAT WORLD

JIAODA WITHUB

CREATIVE CHINA

SMART CITY DEV

DAISHOMICROLINE

RIMBACO

SHENYANG PUBLIC

XUNCE

MPNGY

09992

00700

02828

The total short selling amount in the Hong Kong stock market reached HKD 49.95 billion, accounting for 21.4% of the total transaction of HKD 233.76 billion for shortable shares. The main shorted stocks include HSCEI ETF, Tracker Fund of Hong Kong, Meituan, TENCENT, and POP MART, with short selling ratios of 46.5%, 26.7%, 30.8%, 14.9%, and 24.1%, respectively

AASTOCKS

Meituan

POP MART

TENCENT

HSCEI ETF

The total short selling on the Hong Kong stock market for the day was HKD 49.95 billion, accounting for 21.4% of the turnover of shortable stocks

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Innovative drug concept stocks showed active performance, with JLPC touching the daily limit, Menovo hitting 5 daily limits in 6 days, and Kingchem, Hinova, SDKX, DEZHAN HEALTHCARE, and WBDE following suit. In morning trading, the military industry sector surged; Jianshe Industry hit 2 daily limits in 4 days, while North Long Dragon, GreatWall Military, Jieqiang Equipment, FIRMACO, and Guoke Group climbed

- On March 27, A-shares opened low but recovered slightly, with key indices reducing losses; various sectors like CRO and innovative pharmaceuticals showed strength, while memory and optical communication hardware adjusted.  
- The bond market saw a downturn, with government bond futures declining, and most domestic commodity futures also fell, particularly for indexes and certain metals.  
- Lithium battery material stocks remained strong, with significant production increases noted for energy storage cells, while innovative drug stocks and military sectors exhibited particular upward movements amidst geopolitical tensions affecting oil prices.

Wallstreetcn

Hinova

JLPC

Menovo

SDKX

DEZHAN HEALTHCARE

WBDE

North Long Dragon

Guoke Group

Jieqiang Equipment

Kingchem

FIRMACO

GreatWall Military

Shanghai Composite Nears Positive Territory, Pharmaceutical Stocks Surge, Computing Hardware Stocks Continue to Adjust, HSI Fluctuates Higher, New Consumption Concept Stocks Rebound, POP MART Rises 2%

HPPD

Wang Ning, founder of Pop Mart, has lost $2.7 billion in net worth as the company's stock fell over 22% following its 2025 earnings report. Despite a 184.7% increase in sales to 37.1 billion yuan and a nearly fourfold rise in net profit, concerns about slowing overseas growth and disappointing revenue projections have emerged. Analysts noted a reduction in dividend payouts and execution risks in new ventures. Wang aims for at least 20% revenue growth this year while maintaining profitability, as Pop Mart diversifies its product offerings beyond its popular Labubu character.

- Shares of the Hong Kong-listed toymaker Pop Mart declined following its full-year 2025 results, cutting CEO Wang's net worth to $13.6 billion.  
- Despite a 184.7% increase in sales to 37.1 billion yuan and nearly quadrupled net profit, concerns arose over slowing overseas growth and lower-than-expected revenue and profit growth.  
- Wang forecasts at least 20% year-on-year revenue growth for 2026, emphasizing that profitability will remain a priority as the company continues to expand its intellectual property lineup beyond its popular Labubu character.

vnexpress

POP MART HK SDR 20to1

Pop Mart billionaire Wang Ning loses $2.7B in net worth amid slide in Labubu maker's stock

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06862

03690

01880

01211

03317

01810

On March 27th, during the Hong Kong stock market, the three major indices collectively strengthened, with the Hang Seng China Enterprises Index leading with a rise of 1.14%. The catering and retail sectors performed impressively due to a rebound in consumption, with leading stocks such as Ganfeng Lithium and BYD significantly surging. Although the market is under pressure from previous highs, new economy leaders are actively traded, and investors are closely watching the upcoming macroeconomic indicators and the impact of exchange rate fluctuations

- As of March 27, Hong Kong's stock indices rose collectively, with the Hang Seng Index at 25,029.27, up 0.70%.  
- The restaurant sector experienced overall gains driven by a recovery in consumer spending, particularly with Haidilao rising 6.11%.  
- Key economic indicators such as exports and retail sales are under close observation to assess recovery strength, impacted by external factors and local policy adjustments.

Market Heartbeat

GANFENGLITHIUM

HAIDILAO

MEITUAN

CTG DUTY-FREE

BYD COMPANY

XIAOMI-W

Ganfeng Lithium

Hang Seng Index

Hong Kong stocks intraday | Three major indices rose collectively, Ganfeng Lithium up 8.31%, the catering retail sector strong

02800

The short selling amount in the Hong Kong stock market reached HKD 25.02 billion in the first half of the day, accounting for 22.2% of the total shortable stock turnover of HKD 112.88 billion. The previous day was 21.6%. The main shorted stocks include: HSCEI ETF short ratio 50.4%, short amount HKD 4.89 billion; TRACKER FUND short ratio 27.2%, short amount HKD 1.88 billion; MEITUAN-W short ratio 29%, short amount HKD 1.8 billion; POP MART short ratio 22.5%, short amount HKD 0.85 billion; TENCENT short ratio 13.6%, short amount HKD 0.8 billion

TRACKER FUND

The short selling in the Hong Kong stock market for half a day reached HKD 25.02 billion, accounting for 22.2% of the total turnover of shortable stocks

The incremental boost to Pop Mart’s stock price from its proposed buyback was likely to be limited, said Morningstar.

Boost for Pop Mart’s shares from buyback likely limited

Pop Mart's stock price has plummeted over 55% from its peak last year, reaching a low of $150, amid concerns over the fading Labubu craze. Despite a recent share buyback of 3.97 million shares worth HK$599 million, analysts predict continued declines due to rising inventories and increased short interest at 16.8%. The company's strong revenue growth of 184% to RMB 37.1 billion and profit increase of 293% to RMB 13 billion are overshadowed by fears of unsold products. Technical analysis indicates a bearish trend, with potential further declines towards $100 unless the stock surpasses resistance at $174.

- Pop Mart's stock price has fallen to $150, over 55% down from last year's peak, primarily due to concerns over the diminishing popularity of the Labubu brand.  
- Despite strong annual revenue growth to over RMB 37.1 billion, rising inventories of RMB 5.4 billion raise risks of reduced profit margins and increased selling pressure.  
- Analysts have significantly downgraded earnings estimates, contributing to a short interest surge to 16.8%, while technical indicators suggest further declines could lead the price towards $100 unless a recovery above $174 occurs.

Invezz

Will the share buybacks boost the Pop Mart stock price?

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On March 27th, during intraday trading of Hong Kong stocks, the three major indices maintained a narrow range of fluctuations and have not yet broken through the peak level reached on March 25th. In terms of sectors, retail stocks performed steadily, while the internet and catering sectors showed divergent trends. MAO GEPING rose over 11%, leading the popular stocks, with Tencent and Meituan having high trading volumes, and the overall market sentiment remained cautious

- On March 27, during trading, Hong Kong's three major indices saw slight increases, maintaining a fluctuating trend.  
- The Hang Seng Index reported 24,860.82, up 0.02%, yet failed to reach new highs from March 25, while retail sectors showed slight gains due to stable consumer demand.  
- The macroeconomic context remains focused on trade data and unemployment rates, with expectations of policy support rising as investors seek clearer recovery signals.

KUAISHOU-W

MAO GEPING

CHIFENG GOLD

MircroPort Medbot-B

Hong Kong stock market intraday | The Hang Seng Index rose slightly, the retail sector strengthened, MAO GEPING rose 11.56%

CMB International has downgraded the investment rating of POP MART from "Buy" to "Sell," and reduced the target price from HKD 380 to HKD 127, reflecting concerns about the company's performance and earnings visibility. Due to expectations of a slowdown in sales in the U.S. and Thailand markets, CMB International has cut its overseas revenue forecasts for POP MART for 2026 and 2027 by 52% and 60%, respectively, and correspondingly lowered its net profit forecasts by 32% and 43%

CITIC International downgraded POP MART to sell due to disappointing performance and doubts about profit visibility

Hong Kong-listed POP MART once rose 4.1%, after the company conducted a share buyback

Today’s Key News Recap

0326 | Dolphin Research Focus: 🐬 Macro/Industry 1) Data show U.S. import prices rose 1.3% MoM in Feb, beating the 0.5% consensus and marking the biggest increase since 2022, driven by higher fuel and rising import costs for AI-related semiconductors and computers. The print signals a clear pickup in imported inflation, with signs of a second leg up, and higher import costs are likely to pass through to consumer prices. On the same day, Fed Governor Michael Barr said rates will stay on hold until there is sustained progress toward 2% inflation...

Alphabet

Meta Platforms

Citigroup

CureVac BV

Alphabet - C

MEITUAN-WR

Meituan HK SDR 5to1

CHINA MOBILE

CHINA MOBILE-R

CN Mobile HK SDR 5to1

China Mobile

Intel

INTEL-T

CITIGROUP INC 6.250 NON CUM SER II PFD WI

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company Limited

BYD Company

SpaceX IPO Push: Latest Update; GOOGL Unveils AI Memory-Compression Game-Changer | Daily News Recap

$POP MART(09992.HK)Labubu needs Twinkle Twinkle, Molly and friends to fight back!Buy and support Twinkle Twinkle? hmm...

Pop Mart

Financial Analysis

2026 guidance signals a marked slowdown

Allianzim US Large Cap Buffer10 Mar ETF

Netflix

Pop Mart: Revenue Surges, Shares Plunge — Who Got It Wrong?---

President Trump has to do what he needs to do to protect USA interests. It's just that whatever he decides have so much ripple effects to the markets, both stock, commodities and crypto markets. I see hope and future regarding Iran's situation as President Trump is willing to be flexible in his decision-making, always preferring peace rather than all out war. So oil price will come down, gold price will stabilise and the various markets soon be more predictable.

🇺🇸🇭🇰🇸🇬 Big moves across US, HK, SG markets. Join the chat &amp; earn Task Coins!

Robinhood

Xiaomi HK SDR 2to1

Xiaomi Corporation

XIAOMI-WR

Microsoft

Mobile-Health Network Solutions

F & N

CapLand Ascendas REIT

SATS

Kingsoft Cloud

KINGSOFT CLOUD

KINGSOFT

Circle

XL2CSOPHYNIX

KUAISHOU-WR

Alps Active REIT ETF

Crossamerica Partners LP

☕️ Daily Market Talk | Mar 25, 2026

Conference Minutes

Below is Dolphin Research's Trans of the FY25 earnings call for $POP MART(09992.HK). This section provides a recap of the core takeaways.1) Shareholder returns: the company plans to distribute 25% of net income attributable to shareholders as dividends. This implies a total payout of RMB 3.194bn and DPS of RMB 2.38.2) Guidance: for 2026, management targets revenue growth of at least 20%, prioritizing healthy, sustainable growth over aggressive expansion. It aims to avoid revenue growth without profit. The company will add quarterly business updates in May and Nov to increase disclosure frequency...

Sony

Sony Group Corporation

JD-SW

JD-SWR

JD HK SDR 10to1

JD.com

ByteDance

POP MART (Trans): 2026 'pit stop to refuel and change tires'

POP MART 25H2 First Take: After the print, the stock slumped 22% in the afternoon. On a 2H-only view, results were broadly in line with Bloomberg consensus but below some aggressive buyside models, which Dolphin Research believes had front‑run the move.Setting the quarter aside, another disappointment was management’s conservative 2026 guide at 20% growth. Excluding new overseas store openings, the implied same‑store growth looks low single‑digit, which together fueled the afternoon selloff.1、Overseas revenue below expectations. In 25H2, POP MART delivered revenue of RMB 23.2bn (+174% YoY), a slowdown from the 200%+ pace in H1. Domestic revenue reached RMB 12.6bn (+183% YoY), accelerating vs. H1 on stronger omni‑channel execution with outsized online contribution, beating the Street.Overseas grew 281% YoY but decelerated vs. H1, especially in North America. Versus 10x+ growth in Q3, channel checks indicate offline sales softened after Nov. Black Friday promotions failed to deliver the expected surge, with growth falling below 500%, weighing on overseas performance.2、Rising contribution from The Monsters. With Labubu capacity ramping in H2, The Monsters’ mix rose from 34.7% in H1 to 40%. New IP launches received mixed reviews, raising concerns about dependence on a single IP; on the positive side, the Xingxing Ren series became the fastest‑growing IP, up from under 3% to 7.2%.3、Plush is now the largest category. The share of figures led by blind boxes continued to decline, while plush toys with higher GPM surged. Beyond The Monsters, many other IPs adopted plush designs, lifting plush’s overall mix from 44% in H1 to 54%.4、GPM at a record high. A richer overseas mix and the rapid rise of higher‑margin plush pushed GPM to 73% in 25H2, a new high.5、Operating leverage kicking in. The sales expense ratio fell as the company leaned into lower‑cost customer acquisition on overseas online platforms (Instagram, TikTok), and G&amp;A also declined on disciplined spending and improved internal decision efficiency, lifting core OPM to 48%。$POP MART(09992.HK)

He uses meeting and negotiations as decoy and stab from behind.what can be trusted ..

bendemeer

Total asset size ranks among the top 20% of account holders
Calculated based on  your Longbridge (Singapore) A/C

Total Assets

Always remember, Trump tore up the previous Iran deal signed by Obama administration. What makes anyone think he is genuinely sincere this time? I would still be hesitant to be bullish in the meantime...

I personally would avoid crypto currently, there's been a clear lack of confidence in the industry lately. It's better to wait for confirmation before going back in. Circle dropping 20% is expected, it is heavily in debt... The leverage ratios are off the roof.

I am slightly skeptical about the ceasefire proposal... There are many differences to reconcile. Just like the trade deals, it may take a while before something materialise.

market seems to be somehow indifferent to trump's taco already..still gonna be volatile, with speculation of ground troops approaching soon

GJPOMRT@EC2606C(26621.HK)

GJPOMRT@EC2606C Stock Performance Chart

The total short selling on the Hong Kong stock market for the day was HKD 49.95 billion, accounting for 21.4% of the turnover of shortable stocks

Shanghai Composite Nears Positive Territory, Pharmaceutical Stocks Surge, Computing Hardware Stocks Continue to Adjust, HSI Fluctuates Higher, New Consumption Concept Stocks Rebound, POP MART Rises 2%

Pop Mart billionaire Wang Ning loses $2.7B in net worth amid slide in Labubu maker's stock

Hong Kong stocks intraday | Three major indices rose collectively, Ganfeng Lithium up 8.31%, the catering retail sector strong

The short selling in the Hong Kong stock market for half a day reached HKD 25.02 billion, accounting for 22.2% of the total turnover of shortable stocks